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S.I. No. 401 of 1977.
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EUROPEAN COMMUNITIES (NON-LIFE INSURANCE ACCOUNTS) REGULATIONS, 1977.
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I, DESMOND O'MALLEY, Minister for Industry, Commerce and Energy in exercise of the powers conferred on me by
section 3
of the
European Communities Act, 1972
(No. 27 of 1972) and for the purpose of giving effect to Council Directive 73/239/EEC*, hereby make the following Regulations:
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*OJ No. L228, 16.8.1973, pages 3-19
1. These Regulations may be cited as the European Communities (Non-Life Insurance Accounts) Regulations, 1977.
2. In these Regulations "the Minister" means the Minister for Industry, Commerce and Energy.
3. (1) Every insurance undertaking shall, in respect of the financial year in which these Regulations are made (or such subsequent financial year as the Minister may direct) and in each succeeding financial year, produce to the Minister an annual account covering the types of operation specified in the Schedule to these Regulations or such parts of that Schedule as the Minister may from time to time direct.
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(2) In this Regulation "financial year" has the meaning assigned to it by
section 2
of the
Companies Act, 1963
(No. 33 of 1963).
4. The forms set out in the Schedule to these Regulations are in substitution for the forms of accounts specified in the Insurance Acts, 1909 to 1971, insofar as those accounts relate to undertakings authorised under the European Communities (Non-Life Insurance) Regulations, 1976 (
S.I. No. 115 of 1976
).
5. (1) Subject to paragraph (3) of this Regulation, any document submitted to the Minister under these Regulations shall be lodged in the Companies Registration Office and shall there be open to inspection by any person, and copies of such documents may be procured by any person on payment of such fees as the Minister may from time to time fix.
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(2) Subject to paragraph (3) of this Regulation, the Minister shall at least once in each year lay before each House of the Oireachtas copies of all documents submitted to him under these Regulations in the previous year and may append to such documents any explanatory statement or commentary which he thinks fit.
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(3) ( a ) Paragraphs (1) and (2) of this Regulation do not apply to Forms 1, 3, 5, 7, 9 and 14 in the Schedule to these Regulations.
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( b ) Paragraph (1) of this Regulation does not apply to Form 16 in the Schedule to these Regulations.
6. (1) Amounts entered in a form in the Schedule to these Regulations shall be to the nearest £1,000 unless where the amount to be entered is less than £1,000, and in such a case the amount to be entered shall be to the nearest £1.
7. (1) A person (within the meaning of the European Communities (Non-Life Insurance) Regulations, 1976 (
S.I. No. 115 of 1976
)), who holds an authorisation under those Regulations shall forward to the Minister each year two copies of the accounts and returns laid before its annual general meeting for that year.
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(2) The accounts and returns referred to in paragraph (1) shall be forwarded not later than one month after the annual general meeting.
8. (1) A person (within the meaning of the European Communities (Non-Life Insurance) Regulations, 1976 (
S.I. No. 115 of 1976
)) who fails to comply with any provision of these Regulations shall be guilty of an offence and shall be liable on summary prosecution to a fine not exceeding £500.
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(2) Where an offence under these Regulations is committed by a body corporate and is proved to have been so committed with the consent or connivance of or to be attributable to any neglect on the part of a director, manager, secretary or other officer of the body corporate, the director, manager, secretary or other officer or any person purporting to act in such capacity shall also be deemed to have committed the offence and he, as well as the body corporate, shall be deemed to be guilty of the offence.
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SCHEDULE
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SUMMARY OF ACCOUNTS TO BE COMPLETED ANNUALLY
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NON-LIFE INSURANCE BUSINESS
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Returns required in respect of undertakings with their Head Office in Republic of Ireland
|
Returns required in respect of undertakings with their Head Office located at either 1 or 2
|
Returns required in respect of Lloyd's Syndicates
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1.
In the EEC
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2.
Outside the EEC
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|
Total Business
|
Business in Republic of Ireland
|
Business in EEC (Excluding Republic of Ireland)
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Business outside EEC
|
Business in Republic of Ireland
|
Business in Republic of Ireland
|
Business in Republic of Ireland
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|
1. Underwriting Account—one year business—Gross and Net figures
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*
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*
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*
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*
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*
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*
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*
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|
2. Underwriting Account—one year business—Net figures
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*
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*
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*
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*
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*
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*
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*
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|
3. Underwriting Account—three year business—Gross and Net figures
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*
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*
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*
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*
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*
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*
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*
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|
4. Underwriting Account—three year business—Net figures.
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*
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*
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*
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*
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*
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*
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5. Premium and Reinsurance Analysis by category
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*
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*
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*
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*
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|
6. Premium and Reinsurance Analysis—Total Figures
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*
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*
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*
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|
7. Monthly Premium Analysis
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*
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*
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*
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*
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*
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8. Claims Settlement Analysis
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*
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*
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*
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9. Asset Analysis
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*
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*
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*
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*
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10. Balance Sheet
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*
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*
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11. Profit and Loss Account
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*
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*
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12. Assets/Liabilities Summary
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*
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*
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13. Employment Statistics
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*
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*
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*
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*
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*
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14. Calculation of Solvency Margin
|
*
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*
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15. Combined Return of all Lloyds Syndicates
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*
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16. Returns of Individual Lloyds Syndicates
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*
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17. Certificate
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*
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*
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*
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*
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*Denote this Form to be completed by each undertaking.
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FORM NO. 1
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GROSS UNDERWRITING REVENUE ACCOUNT OF ........................
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Year ended ........................
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The business on this Form was written in :
|
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TOTAL
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Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Fom No. 3)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted
|
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Ireland
|
|
|
|
|
|
|
EEC (Excluding Ireland)
|
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|
|
|
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Total Business
|
|
|
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1
|
|
|
|
Gross
|
Net
|
|
|
£000
|
£000
|
|
1. Opening Provision—Unearned Premium Reserve—Additional Reserve for Unewpired Risks
|
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2. Premium Income—(Direct Business and Facultative Reinsurance accepted).
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less
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3. Closing Provision—Unearned Premium Reserve—Additional Reserve for Unexpired Risks.
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The business on this Form was written in:
|
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TOTAL
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Form No. 3)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted.
|
|
Ireland
|
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
|
Total Business
|
|
|
|
|
|
1
|
|
|
|
Gross
|
Net
|
|
|
£000
|
£000
|
|
4. EARNED PREMIUM INCOME
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|
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5. Other Income (to be described)
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6. TOTAL INCOME
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7. Claims Paid
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8. Closing Provision for outstanding Claims
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—Reported
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—Not Reported
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less
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|
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|
|
|
|
|
|
9. Opening Provision for outstanding Claims
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
—Reported
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|
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|
|
|
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|
—Not Reported
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|
| | |
The business on this Form was written in:
|
TOTAL
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Form No. 3)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted
|
|
Ireland
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
Total Business
|
|
|
|
|
1
|
|
|
|
Gross
|
Net
|
|
|
£000
|
£000
|
|
10. COST OF CLAIMS INCURRED
|
|
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|
11. COMMISSION (Direct Business and Facultative Reinsurance Accepted)
|
|
|
|
|
12. Management Expenses:
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|
|
|
|
|
|
|
|
|
|
|
|
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Insurred in Ireland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Incurred outside Ireland
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13. TOTAL MANAGEMENT EXPENSES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
14. Other Expenditure (to be described)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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15. TOTAL EXPENDITURE
|
|
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|
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|
|
|
|
|
|
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16. UNDERWRITING PROFIT/LOSS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Transferred to Profit and Loss Account).
|
|
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|
|
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|
|
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|
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|
| |
FORM NO. 2
|
| |
NET UNDERWRITING REVENUE ACCOUNT OF..........................
|
| |
Year ended.........................
|
| | |
The business on this Form was written in :
|
TOTAL
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Form No. 4)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted.
|
|
Ireland
|
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
|
Total Business
|
|
|
|
|
|
1
|
|
|
|
Net
|
|
|
|
£000
|
|
1. Opening Provision—Unearned Premium Reserve—Additional Reserve for Unexpired Risks
|
|
|
|
2. Premium Income—(Direct Business and Facultative Reinsurance accepted).
|
|
|
|
less
|
|
|
|
|
|
|
|
|
|
|
3. Closing Provision—Unearned Premium Reserve—Additional Reserve for Unexpired Risks.
|
|
|
|
|
|
|
|
|
|
|
| | |
The business on this Form was written in:
|
TOTAL
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Form No.4)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted.
|
|
Ireland
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
Total Business
|
|
|
|
|
1
|
|
|
Net
|
|
£000
|
|
4. EARNED PREMIUM INCOME
|
|
|
5. Other Income (to be described)
|
|
|
6. TOTAL INCOME
|
|
|
|
|
|
|
|
|
|
7. Claims Paid
|
|
|
|
|
|
|
|
|
|
8. Closing Provision for outstanding Claims
|
|
|
|
|
|
|
|
|
|
—Reported
|
|
|
|
|
|
|
|
|
|
—Not Reported
|
|
|
|
|
|
|
|
|
|
less
|
|
|
|
|
|
|
|
|
|
9. Opening Provision for outstanding Claims
|
|
|
|
|
|
|
|
|
|
—Reported
|
|
|
|
|
|
|
|
|
|
—Not Reported
|
|
|
|
|
|
|
|
|
|
| | |
The business on this Form was written in:
|
TOTAL
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation & Transit (if not included in Form No. 4)
|
Fire and other damage to property
|
Liability
|
Miscellaneous pecuniary loss (including credit and suretyship)
|
Treaty reinsurance accepted.
|
|
|
|
Ireland
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
Total Business
|
|
|
|
|
1
|
|
|
Net
|
|
£000
|
|
10. COST OF CLAIMS INCURRED
|
|
|
11. COMMISSION (Direct Business and Facultative Reinsurance Accepted)
|
|
|
12. Management Expenses:
|
|
|
Incurred in Ireland
|
|
|
|
|
|
|
|
|
|
Incurred outside Ireland
|
|
|
|
|
|
|
|
|
|
13. TOTAL MANAGEMENT EXPENSES
|
|
|
|
|
|
|
|
|
|
14. Other Expenditure (to be described)
|
|
|
|
|
|
|
|
|
|
15. TOTAL EXPENDITURE
|
|
|
|
|
|
|
|
|
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16. UNDERWRITING PROFIT/LOSS
|
|
|
|
|
|
|
|
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|
(Transferred to Profit and Loss Account).
|
|
|
|
|
|
|
|
|
|
| |
FORM NO. 3
|
| |
UNDERWRITING REVENUE ACCOUNT FOR MARINE AVIATION AND TRANSIT THREE-YEAR BUSINESS
|
| |
of.......................................
|
| |
Year Ended....................................
|
| | |
The business on this Form was written in :
|
Business Transacted in the Underwriting Year 19
|
Business Transacted in the Underwriting Year 19
|
Business Transacted in Current Year 19
|
Income and expenditure in 19 (The Year of Account) Total of Columns 3, 6 and 8.
|
|
|
|
Ireland
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
Total Business
|
|
|
|
|
Income and Expenditure in 19 (The second year preceding the Year of Account)
|
Income and Expenditure in 19 (The year preceding the Year of Account)
|
Income and Expenditure in 19 (The year of Account)
|
Total of Columns 1, 2 and 3.
|
|
1.
|
2.
|
3.
|
4.
|
|
Gross
|
Net
|
Gross
|
Net
|
Gross
|
Net
|
Gross
|
Net
|
|
£000
|
£000
|
£000
|
£000
|
£000
|
£000
|
£000
|
£000
|
|
1. Opening Fund
|
|
|
|
|
|
|
|
|
|
2. Premium Income—Direct Business and Reinsurance accepted.
|
|
|
|
|
|
|
|
|
|
3. Other Income—To be described
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4. TOTAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5. Claims Paid
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6. Management Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incurred in Ireland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Incurred outside Ireland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. Other Expenditure to be desribed
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8. Closing Fund
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9. Profit or Loss transferred to Profit and Loss Account
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10. TOTAL
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Note: Premium is Net of Commission
|
| |
FORM NO. 4
|
| |
UNDERWRITING REVENUE ACCOUNT FOR MARINE AVIATION AND TRANSIT THREE-YEAR BUSINESS
|
| |
of....................................
|
| |
Year Ended....................................
|
| | |
The business on this Form was written in:
|
Business Transacted in the Underwriting Year 19
|
Business Transacted in the Underwriting Year 19
|
Business Tranacted in Current Year 19
|
Income and expenditure in 19 (The Year of Account) Total of Columns 3, 6 and 8
|
|
|
|
Ireland
|
|
|
|
|
|
EEC (Excluding Ireland)
|
|
|
|
|
|
Total Business
|
|
|
|
|
Income and Expenditure in 19 (The second year preceding the Year of Account)
|
Income and Expenditure in 19 (The year preceding the Year of Account)
|
Income and Expenditure in 19 (The year of Account)
|
Total of Columns 1, 2 and 3.
|
|
1.
|
2.
|
3.
|
4.
|
|
Net
|
Net
|
Net
|
Net
|
|
£000
|
£000
|
£000
|
£000
|
|
1. Opening Fund
|
|
|
|
|
|
2. Premium Income—Direct Business and Reinsurance accepted.
|
|
|
|
|
|
3. Other Income—To be described
|
|
|
|
|
|
|
|
|
|
|
4. TOTAL
|
|
|
|
|
|
|
|
|
|
|
5. Claims Paid
|
|
|
|
|
|
|
|
|
|
|
6. Management Expenses:
|
|
|
|
|
|
|
|
|
|
|
Incurredin Ireland
|
|
|
|
|
|
|
|
|
|
|
Incurred outside Ireland
|
|
|
|
|
|
|
|
|
|
|
7. Other Expenditure—to be described
|
|
|
|
|
|
|
|
|
|
|
8. Closing Fund
|
|
|
|
|
|
|
|
|
|
|
9. Profit or Loss Transferred to Profit and Loss
|
|
|
|
|
|
|
|
|
|
|
10. TOTAL
|
|
|
|
|
|
|
|
|
|
|
| |
Note: Premium is Net of Commission.
|
| |
FORM NO. 5
|
| |
PREMIUM AND REINSURANCE ANALYSIS OF...............................
|
| |
Year Ended....................................
|
| | |
The business on this Form was written in:
|
Total
|
Accident & Health
|
Motor Vehicle
|
Marine Aviation and Transit
|
Fire and other Damage to Property
|
Liability
|
Miscellaneous pecuniary Loss (including Credit and suretyship)
|
Treaty reinsurance Accepterd not included in Columns 2-7
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Ireland
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All countries
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1.
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£000
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Direct Business and facultative reinsurance accepted.
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Treaty Reinsurance Accepted :
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Gross Premiums
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ANALYSIS OF REINSURANCE CEDED
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Premiums ceded
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Reinsurance Claim Recoveries incurred.
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Commission receivable
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Net retention as % of Gross Premium.
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FORM NO. 6
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| |
PREMIUM AND REINSURANCE ANALYSIS OF...............................
|
| |
Year ended.............................................
|
| | |
Analysis of Premiums Accepted
|
£000
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Direct business and facultative reinsurance accepted.
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Treaty Reinsurance Accepted:
|
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Gross Premiums
|
|
|
Analysis of Reinsurance Ceded
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Premiums Ceded
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Reinsurance Claim Recoveries incurred
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Commission Receivable
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Net retention as % of Gross Premiums
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FORM NO. 7
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| |
MONTHLY PREMIUM ANALYSIS OF.....................................
|
| |
Year Ended..........................................
|
| | |
The business on this form was written in :
|
Total
|
Accident and Health
|
Motor vehicle
|
Marine, Aviation & Transit Insurance excluding 3 year business
|
Fire and Other Damage to Property
|
Liability
|
Miscellaneous pecuniary Loss (including credit and suretyship).
|
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Ireland
|
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All countries
|
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1
|
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Gross
|
Net
|
|
£000
|
£000
|
|
Breakdown by month in respect of direct business and facultative reinsurance accepted in respect of annual risks debited/commencing in
|
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Month 1..................................
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2..................................
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3.................................
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4..................................
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5..................................
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6..................................
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7..................................
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8..................................
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9..................................
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10..................................
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11..................................
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12..................................
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(Sub-total)
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Risks of less than 12 months in force at the end of the year
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Risks of more than 12 months in force at the end of the year
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Risks expired at the end of the year
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*Risks commencing in the previous year but debited in the current year
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*Risks commencing in the succeeding year but debited in the current year
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TOTAL
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*These items only to be completed when this Form is prepared on a "risks commencing in" basis.
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FORM NO. 8
|
| |
CLAIMS SETTLEMENT ANALYSIS OF..............................
|
| | |
Year of Origin
|
Insurance Class
|
Total No. of Claims
|
Total Est. Value of Claims as of year of origin.
|
|
| | |
Year of Account
|
Number of Claims
|
Number of Claims settled
|
Gross Claims payments
|
Gross claims outstanding at end of year
|
Latest Estimate of Gross Liablility in respect of year of origin.
|
|
Reported
|
IBNRS
|
Total
|
Settled in Year
|
To date
|
% to date of column 4
|
Settled in Year or on Account
|
To date
|
% to date of column 18.
|
No. of claims
|
Payments on account included in Col. 11.
|
Estimated Liability at the end of year
|
|
At no cost
|
At Some cost
|
Total
|
Reported claims
|
IBNR
|
Total
|
Total of Column 11 and 17.
|
|
1
|
2
|
3
|
4
|
5
|
6
|
7
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8
|
9
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10
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11
|
12
|
13
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14
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15
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16
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17
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18
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19
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19
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19
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19
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Note: This form should be completed in respect of motor vehicle, employers liability and public liability insurance business.
|
| |
Note: To exclude treaty reinsurance business accepted.
|
| |
FORM NO. 9
|
| |
ASSET ANALYSIS OF......................................
|
| |
Year Ended.................................
|
| | |
Assets
|
Book Value
|
Value per Administrative Rules*
|
Assets Admissible as representing T.R.'s on Irish Business
|
Assets in (3) localised in accordance with Rules
|
Assets in (3) not localised in Ireland
|
|
(1)
|
(2)
|
(3)
|
%
|
(4)
|
%
|
(5)
|
|
1 (A) Property-Land
|
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(B) Ground Rents
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2 Debts secured on land
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3 Debts due within 12 months
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4 Debts due outside 12 months
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5 Quoted Equity shares
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6 Other quoted shares and quoted debentures
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7 Unquoted Shares
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8 Debts due from Individuals
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9 Computer Equipment
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10 Office machinery, furniture, motor vhicles etc.
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11 Securities issued by Irish Government, Municipal or Public Body.
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12 Securities issued by E.E.C. Government or Public Body.
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13 Securities issued by Non-EEC Government or Public Body.
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14 (A) Cash with approved Banks
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(B) Cash with approved Building Societies
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(C) Cash with other approved Financial Institutions
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15 Interests in Unit Trust Schemes
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16 Debts due from Intermediaries and policyholders
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17 Debts due on Reinsurance
|
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18 Debts due—secured on a policy of insurance
|
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19 Value of salvage rights due
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20 Life and Reversionary interests in property
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21 Shares in and debts due from dependent companies
|
|
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22 Other assets to be described
|
|
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|
TOTALS
|
|
|
|
100
|
|
100
|
|
|
|
|
(i) Assets covering Technical Reserves of Foreign Branches of Irish Head Offices .. .. .. .. .. .. .. ..
|
£
|
|
(ii) Assets in excess of total Technical Reserves, held by Irish Head Offices
|
£
|
|
|
|
(iii) Localised Assets as % of Total Admissible Assets covering Technical Reserves (total Col. (4) as % of Col. (3)
|
%
|
|
(iv) Net premium income as defined in Appendix I of Administrative Rules
|
£
|
|
(v) Localised Balances Due from Intermediaries as % of (iv) above
|
%
|
|
| |
*Administrative Rules approved by the Minister for Industry and Commerce in December, 1976.
|
| |
We hereby certify that the values of the Assets set forth in the above statement have been ascertained and reviewed at the date of this statement and are shown therein at amounts which in our belief do not exceed the true values appropriate to the headings specified.
|
| | |
Authorised Agent:
|
Chairman:
|
Director:
|
|
|
Chief Executive:
|
Director:
|
|
| |
FORM NO. 10
|
| |
BALANCE SHEET OF.......................
|
| |
AS AT ....................................
|
| |
NON-LIFE BUSINESS
|
| | |
|
This Year
|
Previous Year
|
|
|
|
Total
|
|
Total
|
|
|
£
|
£
|
£
|
£
|
|
SHARE CAPITAL
|
|
|
|
|
|
Authorised
|
|
|
|
|
|
Issued
|
|
|
|
|
|
RESERVES
|
|
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|
General Reserve
|
|
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Investment Reserve
|
|
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|
Share Premium Account
|
|
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|
|
|
Profit and Loss Account
|
|
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|
|
|
LONG TERM LOANS
|
|
|
|
|
|
TECHNICAL RESERVES
|
|
|
|
|
|
Unearned Premium Reserve (Net of Reinsurance)
|
|
|
|
|
|
Unearned Premium Reserve (Gross) £
|
|
|
|
|
|
Unexpired Risk Reserve (Net of Reinsurance)
|
|
|
|
|
|
Unexpired Risk Reserve (Gross) £
|
|
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|
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|
Outstanding Claims Provision (Net of Reinsurance)
|
|
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|
|
|
Outstanding Claims Provision (Gross) £
|
|
|
|
|
|
Three Year Account Fund (Gross)
|
|
|
|
|
|
OTHER LIABILITIES AND PROVISIONS
|
|
|
|
|
|
Amount Payable to Reinsurers.
|
|
|
|
|
|
Reinsurance Deposits Retained.
|
|
|
|
|
|
Due to Other Insurers (Co-Insurance)
|
|
|
|
|
|
Bank Loans and Overdrafts.
|
|
|
|
|
|
Other Loans.
|
|
|
|
|
|
Other Creditors.
|
|
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|
Taxation
|
|
|
|
|
|
Proposed Dividend
|
|
|
|
|
|
Total Liabilities
|
|
|
|
|
|
FIXED ASSETS (at Cost or Valuation less Depreciation)
|
|
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|
|
|
Property.
|
|
|
|
|
|
Fixtures and Fittings.
|
|
|
|
|
|
Motor Vehicles.
|
|
|
|
|
|
Other fixed assets
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
Amount due from Brokers and Agents, Policyholders.
|
|
|
|
|
|
Amount due from Reinsurers.
|
|
|
|
|
|
Deposits retained by Reinsurers.
|
|
|
|
|
|
Amounts due from Other Insurers.
|
|
|
|
|
|
Other Debtors.
|
|
|
|
|
|
Cash on Current Account and in hand
|
|
|
|
|
|
GOODWILL
|
|
|
|
|
|
Total Assets
|
|
|
|
|
|
| |
Stock Exchange Securities are included in the above Balance Sheet at Cost Price, and the values are in the aggregate, after taking into account the Investment Reserve Fund, below the Middle Market Price on 19 . Mortgages and Loans included in the Balance Sheet are in our belief in the aggregate adequately secured.
|
| |
We hereby certify that the values of all the Assets set forth in the above Balance Sheet have been ascertained and reviewed at the date of the Balance Sheet and are shown therein at amounts which in our belief do not exceed in the aggregate the realisable or market value of the Assets after taking into account the Investment Reserve Funds. Assets and Liabilities in foreign currencies have been converted in accordance with standard accounting practice.
|
| |
We further certify that no part of any Fund has been applied directly or indirectly for any purpose other than the class of business to which it is applicable.
|
| | |
Chairman:
|
Director:
|
|
Managing Director:
|
Director:
|
|
| |
FORM NO. 11
|
| |
PROFIT AND LOSS ACCOUNT OF.......................................
|
| |
Year Ended .......................................
|
| |
NON-LIFE BUSINESS
|
| | |
|
This Year
Ended 19
|
Previous Year
Ended 19
|
|
|
|
Total
|
|
Total
|
|
|
£
|
£
|
£
|
£
|
|
Underwriting Profit/Loss transferred from Underwriting Accounts.
|
|
|
|
|
|
Investment Income
|
|
|
|
|
|
Profit or Loss on Sale of Investments.
|
|
|
|
|
|
Less Interest Payable
|
|
|
|
|
|
Management Expenses not charged to Underwriting Accounts.
|
|
|
|
|
|
Profit before Taxation and Extraordinary Items
|
|
|
|
|
|
Taxation
|
|
|
|
|
|
Profit after Taxation and before Extraordinary Items
|
|
|
|
|
|
Extraordinary Items Less Taxation
|
|
|
|
|
|
Profit after Taxation and Extraordinary Items
|
|
|
|
|
|
Transfer to or from Reserves
|
|
|
|
|
|
Dividends Paid and Proposed
|
|
|
|
|
|
Profits Retained.
|
|
|
|
|
|
| | |
Chairman:
|
Director:
|
|
Managing Director:
|
Director:
|
|
| |
FORM NO. 12
|
| |
ASSETS/LIABILITIES—SUMMARY IN RESPECT OF BUSINESS IN REPUBLIC OF IRELAND.
|
| |
|
| |
LIABILITIES
|
| | |
Technical Reserves—-MAT Business (See Form 1 or 2)
|
|
|
|
Technical Reserves—-Other Classes:
|
|
|
|
|
|
Unearned premium reserve
|
|
|
|
|
|
Additional unexpired risk reserve.
|
|
|
|
|
|
Outstanding Claims
|
|
|
|
|
|
Other Liabilities and Provisions
|
|
|
|
|
Assets:
|
(To be shown at current market value)
|
|
|
|
|
|
Investments
|
|
|
|
|
|
Fixed Assets
|
|
|
|
|
|
Current Assets
|
|
|
|
|
|
Goodwill
|
|
|
|
|
|
Other Assets
|
|
|
|
|
SURPLUS/DEFICIT
|
|
|
|
|
| |
FORM NO. 13
|
| |
EMPLOYMENT STATISTICS
|
| |
Name of Company: .......................................
|
| |
As at (Date) ............................................
|
| | |
|
Undertaking with Head Office in Ireland
|
Undertaking with Head Office outside Ireland
|
|
|
In Ireland
|
Outside Ireland
|
In Ireland
|
|
Full-time Staff Employed
|
|
|
|
|
Total payroll
|
|
|
|
|
| |
FORM NO. 14
|
| |
STATEMENT OF THE SOLVENCY MARGIN
|
| |
OF
|
| | |
............................................................ .......................
|
(Name of Undertaking)
|
|
| |
AS AT
|
| | |
............................................................ ......
|
(Date)
|
|
| |
ALL ASSETS AVAILABLE TO COVER THE MINIMUM SOLVENCY MARGIN
|
| |
SCHEDULE 1
|
| | |
|
|
£
|
|
1.1 Paid up share capital or effective initial fund
|
|
......................
|
|
1.2 One half of the unpaid share capital or effective initial fund once the paid up part reaches one-quarter of the capital or fund.
|
|
......................
|
|
1.3 Reserves not corresponding to underwriting liabilities
|
|
|
|
1.3.1 statutory reserves
|
.....................
|
|
|
1.3.2 free reserves
|
.....................
|
|
|
|
Total 1.3
|
......................
|
|
1.4 Carry-forward of profits
1.4.1 balance carried forward from previous years
|
.........................
|
|
|
1.4.2 non-allocated profits in respect of the last financial period after appropriation of the balance on the profit and loss account
|
...........................
|
|
|
|
Total 1.4
|
......................
|
|
1.5 One-half of the possible call for supplementary contributions within the financial year (up to a limit of one-half of the solvency margin)
|
|
......................
|
|
1.6 Other items (specify)
|
|
|
|
|
Total 1.1 to 1.6
|
......................
|
|
1.7 Intangible items appearing in the balance sheet (to be detailed on a separate sheet)
|
|
......................
|
|
TOTAL SCHEDULE I
(Sum of 1.1 to 1.6 less 1.7)
|
|
......................
|
|
| |
SCHEDULE 2
|
| |
Note The amounts under this schedule are permitted at the request of and upon proof being shown by, the undertaking and in accordance with the 2nd Protocol to the 1st E.E.C. Coordination Directive on Non-Life insurance.
|
| | |
2.1 Reserves resulting from underestimation of assets.
|
................................
|
|
2.2 Reserves resulting from overestimation of liabilities.
|
................................
|
|
| |
(includes £........................ for the unexpired risks reserve—-up to a limit of 20% of the solvency margin)
|
| |
TOTAL SCHEDULE 2
|
| | |
(Sum of 2.1 and 2.2)
|
.......................
|
|
| | |
|
£
|
|
ALL ASSETS AVAILABLE TO COVER THE MINIMUM SOLVENCY MARGIN
|
......................
|
|
| |
(Sum of Schedules 1 and 2)
|
| |
Items shown under Schedule 2 represent ......................% of the margin.
|
| |
AMOUNT OF THE SOLVENCY MARGIN TO BE ESTABLISHED
|
| |
FIRST RESULT
|
| | |
Note Accounts for the latest financial year to be used.
|
£
|
|
1. Direct premiums or contributions before deducting premiums ceded through reinsurance and excluding all acceptances whether receded or not.
|
........................
|
|
Plus:
|
|
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2. Reinsurance premiums accepted.
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........................
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|
Less:
|
|
|
3. Total of premiums or contributions cancelled and taxes and levies.
|
........................
|
|
Total 1 (1+2–3)=
|
........................
|
|
Total 1 is then divided into:
|
|
|
(i) that portion of Total 1 which is not greater than 10,000,000 Units of Account (a) which in Irish pounds is equal to £..... × 18% = £....................
|
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(ii) that portion of Total 1 which is greater than 10,000,000 Units of Account which in Irish pounds is equal to £........ × 16%= £.........................
|
|
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TOTAL 2 (Sum of (i) and (ii) above)
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......................
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4. Net incurred claims (b) as a percentage of gross incurred claims (c) = ............. %
|
|
|
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(a) Units of Account
|
| |
The value attaching to the unit of account shall as from 31 December of each year be that of the last day of the preceding October as calculated in accordance with
Statutory Instrument No. 276 of 1976
.
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| |
(b) Net incurred claims to be taken as:
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| |
Claims arising on direct business plus
|
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Claims arising on reinsurance acceptances less
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| |
Claims arising on reinsurance ceded.
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| |
(c) Gross incurred claims to be taken as:
|
| |
Claims arising on direct business plus
|
| |
Claims arising on all reinsurance acceptances.
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| | |
5. Relevant percentage .............. % (Amount of % at 4 above or 50% which ever is the greater)
|
£
|
|
FIRST RESULT (Total 2 × Percentage entered at 5 above)
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............................
|
|
| |
AMOUNT OF THE SOLVENCY MARGIN TO BE ESTABLISHED
|
| |
SECOND RESULT
|
| | |
Note: Three or Seven year account
|
£
|
|
1. Claims paid including those arising on reinsurance ceded but excluding those arising on reinsurance accepted whether re-ceded or not and including salvages effected.
|
....................
|
|
Plus:
|
|
|
2. Claims paid on reinsurance acceptances including those relating to subsequent retrocessions
|
.....................
|
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Plus:
|
|
|
3. Reserve for outstanding claims, including acceptances, established at the end of the reference period.
|
.....................
|
|
Less:
|
|
|
4. Amount of recoveries and salvages effected
|
......................
|
|
Less:
|
|
|
5. Reserve for outstanding claims, including acceptances, established at the beginning of the reference period
|
......................
|
|
6. Cost of claims during reference period =[1 + 2 + 3] – [4 + 5]=
|
......................
|
|
7. Annual average = 1/3rd or 1/7 of (6)=
|
......................
|
|
The annual average under 7 above is then divided into
|
|
|
(i) that portion of 7 above which is not greater than 7,000,000 Units of Account which in Irish pounds is equal to
|
|
|
£.............. × 26% = £.....................
|
|
|
(ii) that portion of 7 above which is greater than 7,000,000 Units of Account which in Irish pounds is equal to £...................... × 23% = £..................
|
|
|
TOTAL 1 (Sum of (i) and (ii) above)
|
......................
|
|
8. Net incurred claims as a percentage of gross incurred claims =
|
|
|
............................ %
|
|
|
|
£
|
|
9. Relevant percentage ............% (Amount of % at 4 above or 50% whichever is the greater)
|
|
|
SECOND result (TOTAL 1 × Percentage entered at 9 above).
|
......................
|
|
SUMMARY
|
|
|
FIRST RESULT £......................
|
|
|
SECOND RESULT £...................
|
|
|
AMOUNT OF MARGIN TO BE ESTABLISHED
|
£....................
|
|
(the higher of first and second result)
|
|
|
| | |
TOTAL OF SCHEDULES 1 AND 2
|
£.....................
|
|
of which items under Schedule 1 amount to
|
£.....................
|
|
and items under Schedule 2 amount to
|
£.......................
|
|
(Signed)
|
...........................................................
|
|
(Date)
|
...........................................................
|
|
(Position)
|
...........................................................
|
|
|
(Date and signature of a responsible officer of the undertaking)
|
|
| |
FORM NO. 15
|
| |
ALL SYNDICATES OF LLOYDS
|
| |
Year Ended ....................................
|
| | |
|
Total
|
Accident and Health
|
Motor
|
Marine Aviation and Transit
|
Fire and other damage to Property
|
Liability
|
Miscellaneous Pecuniary Loss
|
|
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
(7)
|
|
Gross Written Premium
|
|
|
|
|
|
|
|
|
Commission
|
|
|
|
|
|
|
|
|
Claims Paid
|
|
|
|
|
|
|
|
|
Claims Outstanding
|
|
|
|
|
|
|
|
|
| |
FORM NO. 16
|
| |
INDIVIDUAL SYNDICATES
|
| |
Year Ended .......................
|
| |
LLOYD'S SYNDICATE No .................................
|
| | |
|
Total
|
Accident and Health
|
Motor
|
Marine Aviation and Transit
|
Fire and other damage to property
|
Liability
|
Miscellaneous Pecuniary Loss
|
|
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(6)
|
(7)
|
|
Net Written Premium
|
|
|
|
|
|
|
|
|
Claims Paid
|
|
|
|
|
|
|
|
|
Commission
|
mmmmmmmmmmmmmmm
mmmmmmmmmmmmmmm
mmmmmmmmmmmmmmm
mmmmmmmmmmmmmmm
mmmmmmmmmmmmmmm
|
|
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
|
|
Claims Outstanding
|
|
|
| |
FORM NO. 17
|
| |
CERTIFICATE
|
| |
Note:
|
| |
A statement attesting the correctness of the information provided on all forms should be signed by a majority of the Directors of the undertaking. In the case of Lloyds this statement should be signed by the Chairman of the Committee of Lloyds.
|
| |
A statement attesting the correctness of the information appearing on the Balance Sheet, Profit and Loss Account, Asset Analysis, Assets/Liabilities Summary (as appropriate) should be signed by the insurers auditors.
|
| |
GIVEN under my Official Seal this 30th day of December, 1977.
|
| |
DESMOND O'MALLEY,
|
| |
Minister for Industry, Commerce and Energy.
|
| |
EXPLANATORY NOTE.
|
| |
This Instrument introduces a requirement for non-life insurance undertakings in Ireland to submit Statutory Returns in the form set out in the Schedule hereto in substitution for the forms of account specified in the Insurance Acts, 1909 to 1971. The provisions of this Instrument shall apply in respect of the financial year in which the Instrument is made and all subsequent financial years. The availability of the information contained in the Schedule will enable the Minister for Industry, Commerce and Energy to exercise his supervisory function in accordance with the provisions of the European Communities (Non-Life Insurance) Regulations, 1976 (
Statutory Instrument No. 115 of 1976
).
|
